Readers' comments

Living will are a great principle - clarity on resolution process is essential for relative valuation of assets to stand a hope of approximate consistency, for keeping the more profitable assets & subsidiaries liquid and operational, and for executing more rapid insolvencies with reduced resource idling and with lower legal overheads.

All large businesses should maintain living wills; and living wills should be publicly viewable for publicly trading entities (and for institutional investors).

On the other hand, the single sets of accounting standards that underpin new capital regulations are truly disastrous. If insurers are to have their valuations, capital allocation and broad activity constrained by homogeneous accounting standards, then regulators are actually *increasing* systemic risk:http://productivityshift.blogspot.ro/2013/07/homogeneous-metrics-and-ext...

Never mind the perverse consequences & free riding that come with perceived government guarantee.